167AC
In forceMeaning of MCI mutual entity
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2BBasic features of a company
Part 2B.8Mutual capital instruments (MCIs)
Division 2MCI mutual entities and MCIs
167AC Meaning of MCI mutual entity
A mutual entity is an MCI mutual entity if:
(a)
the entity is a public company; and
(b)
the entity does not have voting shares (other than MCIs) quoted on a declared financial market; and
(c)
the entity is not a registered entity within the meaning of the Australian Charities and Not‑for‑profits Commission Act 2012; and
(d)
the entity’s constitution states that the entity is intended to be an MCI mutual entity for the purposes of this Act; and
(e)
the entity has issued one or more MCIs.
This Act’s bill:Explanatory memorandumSecond reading speech
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